B. Riley set a $15.00 price target on WhiteHorse Finance (NASDAQ:WHF) in a research report sent to investors on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the investment management company’s stock.
Several other research firms have also recently commented on WHF. Raymond James started coverage on WhiteHorse Finance in a research note on Tuesday, June 18th. They set an outperform rating and a $16.00 target price for the company. Oppenheimer cut WhiteHorse Finance from an outperform rating to a market perform rating in a research note on Thursday, August 8th. CIBC reiterated a market perform rating on shares of WhiteHorse Finance in a research note on Thursday, August 8th. Zacks Investment Research upgraded WhiteHorse Finance from a sell rating to a hold rating in a research note on Friday, August 9th. Finally, BidaskClub cut WhiteHorse Finance from a hold rating to a sell rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $14.63.
WhiteHorse Finance stock opened at $12.98 on Tuesday. The stock has a market cap of $269.77 million, a P/E ratio of 8.65 and a beta of 0.60. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $13.71 and a 200-day moving average of $14.06. WhiteHorse Finance has a 52 week low of $11.89 and a 52 week high of $15.00.
In related news, major shareholder Anthony Tamer sold 229,328 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $14.00, for a total transaction of $3,210,592.00. Following the sale, the insider now directly owns 6,026 shares of the company’s stock, valued at approximately $84,364. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin Francis Burke purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $42,000.00. Following the completion of the transaction, the director now owns 7,530 shares in the company, valued at approximately $105,420. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in WhiteHorse Finance by 45.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,728 shares of the investment management company’s stock valued at $258,000 after buying an additional 5,810 shares during the last quarter. Citadel Advisors LLC acquired a new stake in WhiteHorse Finance in the 2nd quarter valued at approximately $166,000. Marshall Wace LLP grew its holdings in WhiteHorse Finance by 91.1% in the 2nd quarter. Marshall Wace LLP now owns 166,991 shares of the investment management company’s stock valued at $2,296,000 after buying an additional 79,600 shares during the last quarter. Morgan Stanley grew its holdings in WhiteHorse Finance by 28.2% in the 2nd quarter. Morgan Stanley now owns 135,834 shares of the investment management company’s stock valued at $1,868,000 after buying an additional 29,902 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new stake in WhiteHorse Finance in the 2nd quarter valued at approximately $178,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.
About WhiteHorse Finance
WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.
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